A market is a system of rules in which buyers and sellers trade goods and services at prices and on terms they understand and agree to.

Yet, how much do buyers and sellers know about the third-party rules involved in each transaction?

All parties can now publish rules of commerce to the Internet in a common standard way. An “Internet of Rules” (IoR) is created when computational algorithms can be readily transmitted from any independent source repositories, within which they are maintained, to any applications that would use them.

Lichen is a free auxiliary IoR component to run alongside or integrate within any purchase or sales order for context-specific discovery and verification of:

Transaction fees

Taxes, exemptions and subsidies

Exchange rate results

Cross-border tariffs and customs

Loyalty points and discounts

Specialized price arrangements

And more.

Lichen operates through the API of any e-commerce, e-forms or e-payment solution, for any payment method, on any platform:

Online

Mobile

Voice

In-store

Users on-the-go obtain immediate summary results.

They can easily step into three levels of detail about each rule. As well, they remain entitled to remove rules.